We spend our lives telling brands to be culturally relevant. The growth of the Halal beauty market due to the power of small and medium size brands is a great example of this.
The market has grown from $255 million to $315 million in the last two years alone (Technavio). The increased sales of Halal beauty products across the Asian market have been driven primarily by smaller brands such as Mihri and Sam Pure Minerals. Smaller brands are nimble and able to react to the changing needs of the consumer, whereas bigger brands are currently unable to be as flexible in responding to cultural shifts.
The development in this market exemplifies how brands need to be culturally tapped in and stay culturally relevant. Therefore big brands need to be nimble, relevant and brave, as their culturally savvy smaller business counterparts are fast becoming the new entrepreneurs of change.